Stock Market Today: Dow Spikes 489 Points After Encouraging Inflation Data

Tuesday's cooler-than-expected CPI report lit a fire under stocks.

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(Image credit: Getty Images)

Stocks catapulted higher out of the gate Tuesday and stayed that way through the close as a weaker-than-expected inflation update ramped up expectations the Federal Reserve is done hiking interest rates.  

Ahead of the opening bell, data from the Bureau of Labor Statistics showed that the October Consumer Price Index (CPI) was flat on a month-over-month basis and up 3.2% year-over-year. 

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.